| What is a BID |
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The New York City Department of Small Business Services (SBS) is the agency that accepts formal applications to create a Business Improvement District. Any commercial, retail, or industrial area in New York City may apply by completing the planning, outreach and legislative approval process. In order to be approved, BIDs must be sanctioned by the local Community Board, the City Planning Commission, the City Council, and the Mayor. A business improvement district (BID) is a public-private partnership formed to accelerate the business climate and overall quality of life for resident, visitors and merchants within a defined boundary. Businesses pay an additional tax or fee in order to fund improvements within the district. BIDs are sometimes called business improvement areas revitalization zones, community improvement districts, special services areas, or special improvement districts. Services BIDs provide include street cleaning, security, capital improvements, and marketing of the area. The services provided by BIDs are in addition to those already provided by the municipality. The Bed-Stuy Gateway Business Improvement District is newest of New York City's 64 Business Improvement Districts. For more information on the SBS and the New York City BID program, click here. |